WHA plans custom factories, warehouses in Asean countries
WHA Corporation plans to foray into the built-to-suit factory and warehouse markets in Asean, starting with Myanmar, the Philippines or Vietnam.Somyos Anantaprayoon, president and chief executive officer, said yesterday that the investment plan was expected to be finalised next year and revenue would start to be realised in 2015.
Initially, Bt400 million to Bt500 million is expected to be spent on land purchases overseas. A feasibility study has been completed.
The company needs to seek local partners, as it will hold 40-50 per cent of the foreign joint venture, pending the final plan.
WHA Group, which was established in 2003, provides clients with factory and warehousing solutions so that they can operate at full efficiency.
The company targets an increase of 30 per cent in revenue this year from Bt2.21 billion last year, which was up
by 30 per cent from 2011.
Demand for warehouse space and distribution centres has continued to be strong, especially from foreign companies that want to raise their investment in Thailand and expect the country to be their centre in Southeast Asia.
WHA has also benefited from special income from the management of its property fund. The company will prepare 600,000 square metres of space in its portfolio, of which about 100,000sqm will be sold to the property fund every year. This is aimed at bringing in greater revenue and profit.
Next month, WHA Group and Phatra Securities will go on a roadshow to meet and disseminate information to individual investors in Singapore.
Last year, WHA increased its revenue by 821.57 per cent to Bt2.21 billion from Bt240.18 million in the previous year. Its operating net profit also soared 285 per cent to Bt213.29 million from only Bt55.40 million in the previous year.
In the fourth quarter of last year, WHA's net profit rose 64.99 per cent from the third quarter to Bt24.65 million. Its revenue also climbed 25.87 per cent to Bt132.34 million from Bt105.14 million in the same quarter in 2011. Revenue in the quarter was also 38.59 per cent higher than the previous quarter.